Without the sea - anywhere





28.07.2010 17:19
Real Estate Market Analysis | Without the sea - anywhere With the onset of warm season southern coast of Crimea traditionally attracts the attention of wishing to relax. But the peninsula is also of interest to investors who want to buy real estate. What about new buildings in the Crimea - read BUILDING.

Magic of the South Coast

Experts point to the huge investment attractiveness of the Crimea. Lilia Safronova, Manager of Marketing Group of companies "Artex" (FA "Laguna") said that the peninsula has always been in demand for permanent residence and regular rest, but nowadays it is also interesting to invest in real estate. Now that the panic over the global financial crisis had subsided, and the previously active investor demand for facilities in the Crimea has increased significantly.

Konstantin Savin, managing partner of investment and development company "Pragma" (FA "Brigantine") considers Crimea interesting to invest in residential and commercial real estate. If all the signs of investment attractiveness of the region - the popular resort areas and unique climate - professional players in the Crimean estate is still not enough. However, this market has good prospects. The most popular continues to enjoy Soviet "tourist brands" on the southern coast of Crimea: Yalta and Alushta, smt. Mishor, Gurzuf, Partenit, Foros - that is, Big Yalta. Especially attractive Gurzuf and Mishor with their unique wellness microclimate, nature reserves, parks, monuments, etc.

Gennady tenants, managing partner of construction company "South Beach" (FA "Nikita's Palace"), also argues that the Big Yalta - the undisputed leader on the volume and pace of construction of residential real estate. According to the expert, is the most attractive in terms of investment the region of Crimea. According to observations by K. Savinov, construction under way throughout the South Coast, and offers a variety of formats and concepts. The coastal zone is being built mainly spa facilities, but far from the sea - for permanent residency claimed by the local population.

Effect of crisis
During 2009, the real estate market of the Crimea were inherent in nation-wide trend. According to the Department of Statistics in the Crimea, in this period the volume of construction works amounted to UAH 1,988,600,000. But it is lower than in 2008 by 37,9%. At the same time in 2009 was commissioned in 387 300 square meters. m, which is only 6,8% less than in 2008. This situation is explained by the fact that the operation Entering the house, the construction of which began in previous years.

The crisis in the construction sector have led to the fact that at the beginning of 2009 was suspended 80% of the implementation of projects. In the II quarter of 2009, some developers have resumed work, but they were slower pace, and deadlines for buildings in the operation postponed. According to the company's "Real Expo, at the beginning of 2010 in the Crimea, there were 178 new buildings, of which 43 were put into operation, 122 were under construction and sales, at 13 construction sites only planned. In this part of the construction, but not sold to housing was 24%.

With regard to individual cities, then according to the Anatolia Shakhnovsky, Director General of the DCO "Cascade" (FA "Emperor"), built in 1971 at Yalta new building, in Sevastopol - 29, in Alushta - 23. The attractiveness of these objects is determined by the location, infrastructure and natural conditions. Among other things erected in Yalta, the following housing estates: "Nikita's Palace", "Laguna", "Gallery", "Brigantine", "Emperor", "Admiralty" and "House of Composers".

Crisis affected all the players of the Crimean real estate market. But G. Lodgers sure that this natural selection was simply necessary. Pre-crisis market was saturated in Yalta "bubbles" - projects whose only asset was land. Their concept is unreasonable and, as a consequence, the lack of sales led to stop the construction. No price reduction is not able to block the financial risks of investing in projects in progress. The crisis has removed from the market of speculators selling air, and sobered buyers. It turned out that in reality projects with stable funding from its own funds or credit is almost there. So, along with falling demand and the market shows limited supply. Although in terms of reliability it is quite another suggestion.

According to G. Zhil'tsova, about 60% of residential complexes YUBK not completed by the beginning of the crisis is still not finished. The works are either not conducted at all or are periods when it is possible to raise funds buyers. Developers who invest their own money or credit, very little. Therefore, the complexes, which will be commissioned in 2010-2011, a little - it "Nikita Palace", "Brigantine", "House of Composers" and the house of "console" on the street. Tauris in Yalta.

L. Safronov notes that today in the Big Yalta (from Partenit to Mishor) are constructed mainly apartment buildings and apartment complexes. The crisis dates for many of the objects moved an average of one year in advance. However, the real estate market in the Crimea shows a steady growth both in terms of demand, and in respect of cost. According to Alexei Bologov, manager of LLC "Domus" (SC "Southern Palmira"), consumer interest in the objects in the Crimea has increased by 40-45% compared to the 2008-2009 years.

K. Savinov also captures the resumption of demand for real estate South Coast. According to experts, demand depends on the characteristics of the object and literacy pricing. A noticeable influence and seasonal resort activities. At prices substantially affected by the crisis and policies. Some developers have reduced the cost, others carry the action and make discounts. Thanks to these measures, the market grew, even in difficult periods
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Content tags: Housing Apartment
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